A purpose-built student accommodation (PBSA) scheme in Wolverhampton city centre has been put up for sale by the joint administrators for £4.5m.
Rajnesh Mittal and Arvindar Jit Singh, from FRP Advisory, who were appointed joint administrators of the property’s owner Cleveland Victoria earlier this year, have instructed Watling Real Estate to market the site.
The building at 2 Cleveland Street, which was completed in November 2025, provides 63 studio rooms over the first, second and third floors, and a 6,652 sq ft ground floor commercial unit.
Ben Holyhead, associate director at Watling Real Estate, said: “The property is a brand new PBSA development, occupying a prime city centre location within walking distance of the University of Wolverhampton City Campus. With an estimated gross rental value of £528,000 per annum when fully let, the guide price of £4.5m reflects an attractive reversionary yield of 11%. A purchaser of the property is well positioned to benefit from the limited supply of comparable modern PBSA in the city.”
